London-based PrimaryBid raises €42.3 million to grow its platform that connects retail investors with public companies
Founded in 2015, PrimaryBid seamlessly connects everyday investors with public companies. Through a long-term agreement with the London Stock Exchange, it ensures that retail investors transact at the same time and at the same price as institutional investors, creating a more democratised access to public markets. To date it has been involved in 90 issuances on London markets, including Compass Group, Ocado, Taylor Wimpey and William Hill.
So far, PrimaryBid has completed over 41 capital raisings for UK listed companies and investment trusts since April 2020, working alongside global investment banks to broaden investor access as companies recapitalised their balance sheets and raised growth capital. Retail investors directly own 13.5% of the UK market, while additionally holding approximately €296.7 billion (£269 billion) in cash ISAs, making them an important constituency in any capital raising activity (sources: ONS, 2018; HMRC, 2020).
Charlie Walker, Head of Equity and Fixed Income, Primary Markets at London Stock Exchange plc said:“This investment builds on our collaboration with PrimaryBid and is part of London Stock Exchange Group’s commitment to broadening retail investor access to public equity markets. Through PrimaryBid’s innovative offering, retail investors have been able to access capital raisings on the same terms as institutional investors, supporting the U.K.’s public companies by providing additional capital and liquidity. PrimaryBid has become an important part of the U.K.’s capital raising ecosystem and we look forward to working with them to further enhance retail investor access to capital markets within the U.K. and globally.”
To read more, click here.